RE:RE:RE:RE:RE:News outIt is funny how they are keeping the drill hole locations so vague. That’s one thing they don’t need need to be secretive about. Looks like the last 3 or 4 will be the exciting wild card we have been waiting for. The infills pretty much ensures we move out of Indicated to Material I would think. More important but kind of a given now. Along with all the technical study stuff of course.
Now I’d be real curious to see what direction they went with the outstretched drilling. They always talked about Southwest, but the Northwest seemed like where the great potential is. That real juicy spot in the northwest of the established pocket seems to die off right there for no reason. Well more accurately, they just stopped drilling there. Drill hole B-8/97 had approx 9 m of goodness, then nothing drilled to west of it. A mystery hole B-47/97 that I don’t have info on, about 100 m above. 11.5m of Boron at B-29/97 which is 100 m northeast. I don’t expect the good stuff to spread a long distance, but with big thick beds, the tonnage goes up crazy fast. A metre by a metre is 2.5 tonnes of Boron ore. (Seemed to be the going rate). If so, just a 100x100 and 10 m thick gets you a 1/4m tonnes. That’s $125m in revenue for straight Colemanite at $500/T or approx $80M of profit. Ballparking big time so forgive the inaccuracies.
While I’m blabbing, very important factors that can and will be adjusted and played with. Rightfully so, Discount rate should go down with a partner and a much more stable Serbia. That’s huge.
I always think of that Serbian 10 year tax holiday. The whole FS could be adjusted to hammer out a lot more Boron in the first 10 years. That cranks up the number of tax free dollars and early less discounted profit.
Imagine if the price of Colmanite goes up 20%, or maybe has(does anyone know the value these days), the Discount rate comes down to 6%, and our Resource/Reserves grow 25%?! Also getting to FS and building a mine quicker will crank up PV numbers. We just might get a fair shake from the Major’s strength and synergies. I’m thinking to hold on a lot longer now, but still don’t see share price rocketing over a buck super quick. And that’s cool, let’s just get this thing sitting over .50 on a day to day basis.
Just my opinion of course. I daydream too much. Well, back to work! Have a good day friends. I will miss this one day.